China's ruling Communist Party is in the process of installing the country's fifth generation of leaders. But Peter Phillips says president Hu Jintao has offered a stern warning to his anointed successor Xi Jinping: the coming decade will make or break China; don't stuff it up.

Amidst the symbolic reassurance sustained by 2,270 heads of uniformly gleaming black hair, the sighs of relief were almost audible in the Great Hall of the People in Beijing. The Chinese Communist Party (CCP) has finally convened its 18th Party Congress, signalling an end to modern China's uniquely agonising annus horribilis and, the Party must fervently hope, the beginning of a new generation of reform, balanced economic and social growth, and stability.

On a day and in a setting replete with symbols, outgoing Party General Secretary and President Hu Jintao stiffly welcomed his predecessor, head of the powerful "Shanghai Gang" Jiang Zemin. Jiang's sharply focussed endorsement of Hu's 10 years of dour rule stood as a stern reminder to heir apparent Xi Jinping that his "Princeling" status alone was not enough to ensure the integrity of the party's heritage and the blessing of the Party hierarchy.

Symbolism aside, the proceedings of the opening day of the Congress centred around Hu Jintao's Work Report, a 90 minute recitation of the achievements of the past decade and recipe of ingredients required for the Party's next ten years. The recipe was most noticeable for its provision of a no-nonsense framework of the task lying ahead for the incoming Party leadership - and in particular for Hu Jintao's successor designate, Xi Jinping.

Starkest of all was Hu's reminder to Xi Jinping (and to the new Politburo Standing Committee, five of whom will be first-timers) that his succession and his tenure will be very much provisional: ultimate confirmation of the Party's endorsement will be gauged against performance criteria clearly signalled in Hu's speech.

From November 15 - when the composition of the new power pinnacle will be formally announced and unveiled for the first time in public - Xi will commence an initial trial period of four months. The trial will last through to the convening of the National People's Congress (NPC) in March 2013, the principal function of which will be to bestow the pro forma blessing and imprimatur of the Chinese Government and national legislature on the decisions and directions of the Eighteenth Party Congress.

Xi Jinping's performance during the crucial four-month period will be of paramount importance and, if judged successful, will reassure a Party deeply traumatised by events at the previous NPC in March of this year, when the fate of Xi's co-"Princeling" and then power aspirant Bo Xilai was sealed. It cast the party into a foment of uncertainty and doubt not experienced at any other time since the launch of new China's modernisation at the beginning of the 1970's.

Xi must, in brief and somewhat cursory summary, clear some important hurdles and log some key achievements:

He must set in place and demonstrate authoritative and assured stewardship over the trial of the fallen and disgraced Bo Xilai. As certainly inevitable as Bo's fate is understood to be, there remains a significant number amongst the Party's 80 million-plus members who will be intensely disillusioned and resentful if the issue is not neatly and comprehensively resolved. Herein lies Xi's first task - and to it will be attached his first "on the job" judgment by the Party's leadership - and membership.

Secondly and also vitally importantly, Xi must grasp the increasingly noxious nettle of corruption. While outgoing supremo Hu Jintao is not widely remarked for his inspiring oratory, there would not have been a single delegate amongst the 2300-odd in the Great Hall of the People in Beijing yesterday who would have missed the import of his message on corruption, including specifically corruption within the ranks of the Party itself: "If we fail to handle this matter well, it could prove fatal to the Party…"

In the disciplined ranks within the Great Hall, not one attendee would have been unaware of the recent reports by the peskily persistent Western news outlets Bloomberg and the New York Times of the accumulated wealth of the family of outgoing Premier (and third-ranking member of the Party ) Wen Jiabao, claimed to be in the order of $US2.7 billion, and of the assets of the extended family of Xi Jinping himself - said to be in the order of $US400 million. Again and specifically, the message from the outgoing leadership to Xi Jinping was unmistakeable.

Thirdly - and almost containing a tone of faint resentment - Hu Jintao made clear that, even if the past decade of modern China's history might not be remembered for its momentousness, it has nevertheless been a period marked by a doubling in the size and clout of China's economy. Xi's challenge, Hu signalled, will be in turn to sustain the 7.5 per cent per annum growth rate, which will see the Chinese economy double again in size by 2022.

In summary then, and more colloquially, Hu's message to Xi has crystal clarity: Your princeling status and heritage alone will not cut it; your achievements across the coming decade will make or break China; don't stuff it up.

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Peter Phillips is the Canberra-based principal of a commercial consultancy specialising in the development of business between Australia and China. View his full profile here.